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SOURCE Analysts Review
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NEW YORK, June 20, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding U.S. Bancorp (NYSE: USB), Signature Bank (NASDAQ: SBNY), Umpqua Holdings Corp (NASDAQ: UMPQ), Cullen/Frost Bankers, Inc. (NYSE: CFR) and First Citizens BancShares Inc. (NASDAQ: FCNCA). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/3937-100free.
U.S. Bancorp Analyst Notes
On June 17, 2014, U.S. Bancorp reported that its Board of Directors has approved a 6.5% increase in the dividend rate on its common stock to $0.98 on an annual basis, or $0.245 on a quarterly basis. The Company stated that the dividend is payable on July 15, 2014 to shareholders of record at the close of business on June 30, 2014. In addition, the Board declared five regular quarterly dividends of $884.722 per share on the Series A Non-Cumulative Perpetual Preferred Stock, $221.18 per share on the Series B Non-Cumulative Perpetual Preferred Stock, $406.25 per share on the Series F Non-Cumulative Perpetual Preferred Stock, $375.00 per share on the Series G Non-Cumulative Perpetual Preferred Stock, and $321.88 per share on the Series H Non-Cumulative Perpetual Preferred Stock. Preferred dividends are payable on July 15, 2014 to shareholders of record at the close of business on June 30, 2014. The full analyst notes on U.S. Bancorp are available to download free of charge at:
Signature Bank Analyst Notes
On June 13, 2014, Signature Bank announced that it has completed its underwritten public offering of 2.1 million shares of common stock at $123.25 per share. The Company stated that net proceeds after the deduction of offering expenses registered approximately $257.2 million, and will be used for general corporate purposes, as well as to facilitate the Bank's continued growth. The Company informed that the offering increases the Bank's capital to nearly $2.2 billion, bringing its current market capitalization to more than $6.0 billion. The Company added that it has also granted the underwriter an option to purchase up to 315,000 shares at the public offering price until July 10, 2014. The full analyst notes on Signature Bank are available to download free of charge at:
Umpqua Holdings Corp Analyst Notes
On June 16, 2014, Umpqua Holdings Corp (Umpqua) announced that its Board of Directors has approved a quarterly cash dividend of $0.15 per common share. According to the Company, the dividend is payable on July 15, 2014 to shareholders of record as of June 30, 2014. The full analyst notes on Umpqua are available to download free of charge at:
Cullen/Frost Bankers, Inc. Analyst Notes
On June 16, 2014, Frost Investment Advisors, LLC, a wholly-owned subsidiary of Frost Bank, which is a subsidiary of Cullen/Frost Bankers, Inc. (Cullen/Frost Bankers), reported the launch of its Frost Aggressive Allocation Fund (FCAAX) class A shares. According to the Company, this fund merges with the Frost Moderate Allocation Fund (FIBTX/FASTX) and Frost Conservation Allocation Fund (FDSFX) class A shares, to provide investors with the funds that are targeted toward balancing risk and return and meet long term investment objectives. The Company informed that the three new funds are being managed by an experienced team of Frost Investment Advisors, LLC professionals. The Company added that as of March 31, 2014, the Frost Total Return Bond Fund (FIJEX/FATRX) ranked in the top three for one-year performance and in January, 2014 it crossed $1 billion in assets for the first time. The full analyst notes on Cullen/Frost Bankers are available to download free of charge at:
First Citizens BancShares Inc. Analyst Notes
On June 10, 2014, First Citizens BancShares Inc. (First Citizens BancShares) and First Citizens Bancorporation announced the signing of a definitive merger agreement. The agreement pertains with the merger of Columbia, South Carolina-based First Citizens Bancorporation and First Citizens Bank and Trust Company, Inc., into Raleigh, North Carolina-based First Citizen BancShares, Inc. and its banking subsidiary, First Citizens Bank. According to the Company, the transaction is expected to close in Q4 2014, subject to the receipt of regulatory approvals and the approval of shareholders from both companies. Under the terms of the agreement, each share of First Citizens Bancorporation will automatically convert into the right to receive 4.0 shares of the First Citizens BancShares Class A common stock and $50 in cash. The full analyst notes on First Citizens BancShares are available to download free of charge at:
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